Central Bank Governor Hector Valdez Albizu forecasts the country will rebound and post a 6% annual growth in 2021, a very impressive number for sure in these Covid-19 times.
According to Valdez Albizu, the International Monetary Fund (IMF) is saying that the Dominican Republic will be the country in Latin America to turn around, overcoming the challenges ahead. He noted that the loss of income from non-mining exports and tourism will be partially compensated by larger than usual exports of gold and increases in remittances from abroad.
Valdez Albizu forecast a 3% of GDP deficit for 2020, and a 2.5% GDP for 2021. Inflation is expected to be below 5% for 2021.
Valdez Albizu was speaking at ceremonies marking the 73rd anniversary of the Central Bank. Valdez Albizu, has worked there for 45 of those years.
In his anniversary talk, Valdez Albizu mentioned that the...
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